XYZ, Inc.'s equity is $800,000. Its ROA is 15% and the ROE is 1.25 times its ROA. Calculate the company's assets.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 5P: Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.0. Its sales are...
icon
Related questions
Question

Need help with this general accounting question

XYZ, Inc.'s equity is $800,000. Its ROA is 15% and
the ROE is 1.25 times its ROA. Calculate the
company's assets.
Transcribed Image Text:XYZ, Inc.'s equity is $800,000. Its ROA is 15% and the ROE is 1.25 times its ROA. Calculate the company's assets.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College